Since its founding as Japan's first fire insurance company in 1888, Sompo group has a history of growing by providing solutions to changing social issues through insurance. In recent years, we have continued to work on solving social issues through our main business, such as making a full-scale entry into the long-term care business to face the social issues of low birthrate and population aging.
In addition, regarding CSR initiatives, with the participation in the Rio Earth Summit in 1992, we have a wealth of achievements as a CSR pioneer, such as collaboration with stakeholders such as environmental NPOs and active participation in sustainability-related organizations.
In addition to these achievements and strengths, we will utilize our qualities as a platformer, such as a“Theme Park for Security, Health & Wellbeing” with diverse businesses, abundant real data generated by each business, networks with stakeholders, and diverse human resources.
Under the new Mid-Term Management Plan, we place “SDGs in business management” which is to pursue the creation of economic value and social value by addressing social challenges through core businesses, as a new management foundation to deliver the Group's purpose. In promoting this, we will use the PDCA cycle, incorporate the social challenges the Group addresses, strategies, and actions into the management framework by setting materiality and KPIs, and will communicate and appeal the outcomes while making them objective by speaking the universal language of SDGs. In SDGs in business management, we will make the maximum use of our achievements and strengths in contributing to SDGs through core businesses and the credentials of platformer driving social transformation, and aim to become a "partnership" platformer for innovation and value creation.
When we were considering SOMPO’s Purpose, our value creation story for its realization, and our new Mid-Term Management Plan, we engaged in rigorous discussions on what kind of social challenges we should address and what kind of value we should deliver in light of the Group’s strengths and resources. These discussions were based on our analyses of medium- and long-term megatrends and identification of social challenges. In addition, we comprehensively identified social challenges and organized them into seven materialities that we will prioritize. These are based on international norms, such as the United Nations Global Compact and ISO 26000, and take into account issues of importance to society and stakeholders. Having set KPIs for each materiality, we will manage our progress and steadily implement the PDCA cycle aimed at achieving the SOMPO’s Purpose.
Materiality identification process